Short Interest in Lightspeed Commerce Inc. (NYSE:LSPD) Expands By 28.9%

Lightspeed Commerce Inc. (NYSE:LSPD) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 6,460,000 shares, a growth of 28.9% from the February 28th total of 5,010,000 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily volume of 880,200 shares, the short-interest ratio is currently 7.3 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on LSPD. Benchmark decreased their price target on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Wells Fargo & Company lowered their price target on Lightspeed Commerce from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. BMO Capital Markets cut their price objective on Lightspeed Commerce from $15.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. Bank of America lowered their target price on Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Finally, Morgan Stanley cut their price target on shares of Lightspeed Commerce from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce currently has a consensus rating of “Hold” and a consensus price target of $15.09.

Institutional Investors Weigh In On Lightspeed Commerce

Hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in Lightspeed Commerce by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock valued at $2,620,000 after buying an additional 679 shares during the period. Addenda Capital Inc. raised its stake in Lightspeed Commerce by 2.0% in the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock valued at $710,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. lifted its holdings in Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after purchasing an additional 1,025 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock worth $370,000 after purchasing an additional 1,276 shares during the period. Finally, Scotia Capital Inc. increased its holdings in shares of Lightspeed Commerce by 12.0% in the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock valued at $293,000 after purchasing an additional 2,053 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Up 1.7 %

NYSE LSPD traded up $0.15 during trading hours on Wednesday, hitting $9.06. 1,013,536 shares of the company traded hands, compared to its average volume of 935,842. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.32, a P/E/G ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a twelve month low of $8.54 and a twelve month high of $18.96. The business’s 50-day moving average is $12.28 and its 200-day moving average is $14.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Sell-side analysts anticipate that Lightspeed Commerce will post 0.08 earnings per share for the current year.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.